2016-05-13

Daily Fantasy Sports, Online Gambling, US Congressional Hearing Video



U.S. Congressional Subcommittee Hearing: Daily Fantasy Sports: Issues and Perspectives, May 11, 2016, 2123 Rayburn Bldg., Washington, D.C.

Witnesses:

Mr. Steve Brubaker
Executive Director, Small Business of Fantasy Sports Trade Association
Witness Statement
Truth in Testimony and CV

Mr. Kurt Eggert
Professor of Law, Chapman University Fowler School of Law
Witness Statement
Truth in Testimony and CV

Mr. Jordan Gnat
SVP, Strategic Business Development, Scientific Games
Witness Statement
Truth in Testimony and CV

Mr. Mark Locke
Chief Executive Officer, Genius Sports Group
Witness Statement
Truth in Testimony and CV

Mr. John M. McManus
Executive Vice President, General Counsel, and Secretary, MGM Resorts International
Witness Statement
Truth in Testimony and CV

Dr. Ryan Rodenberg
Assistant Professor, Florida State University, Department of Sport Management
Witness Statement
Truth in Testimony and CV

Mr. Peter Schoenke
President, RotoWire, on behalf of Fantasy Sports Trade Association
Witness Statement
Truth in Testimony and CV

Ms. Lindsay Slader
Operations Manager, GeoComply
Witness Statement
Truth in Testimony and CV

Documents
Background Memo
Opening Statement - Full Committee Chairman Upton
Opening Statement - CMT Subcommittee Chairman Burgess

Examples of Daily Fantasy Sports companies: draftkings.com & fanduel.com

#SubCMT Wraps Hearing on Daily Fantasy Sports | Energy and Commerce Committee May 11, 2016 (Press Release): Hearing Underscores Importance of Protecting Consumers and Encouraging Innovation WASHINGTON, DC – The Subcommittee on Commerce, Manufacturing, and Trade, chaired by Rep. Michael C. Burgess, M.D. (R-TX), today held a hearing entitled, “Daily Fantasy Sports: Issues and Perspectives.” Full committee Chairman Fred Upton (R-MI) and Ranking Member Frank Pallone, Jr. (D-NJ) previewed the hearing in an op-ed published by The Hill this morning, writing, “Millions of Americans are playing daily fantasy sports, which means that millions of families could be affected. Players deserve to know that the DFS industry operates fairly and transparently, and that states taking different and rushed approaches are not harming the overall consumer experience.” 

The hearing brought together industry representatives, the legal and academic communities, and experts in gaming technologies to assess the rapidly changing landscape of daily fantasy sports. Members examined whether consumer protection concerns would require action beyond the state level, and pressed industry representatives to detail processes in place to preserve the integrity of online games.

Peter Schoenke, Chairman of the Fantasy Sports Trade Association, testified: “We stand ready to work with the FTC and with this subcommittee in moving forward to ensure the fairness and transparency of paid daily fantasy sports as well as season-long fantasy sports and to ensure that we maintain the trust and confidence of fans that choose to play fantasy sports. We also hope that, in doing so, we preserve the ability of states to regulate this activity and that they do so without killing the innovative spirit and new and exciting choices for millions of fans who enjoy fantasy sports.”

Chairman Burgess expressed the importance of consumer protection and the need to better understand how states roles could impact interstate commerce. “Consumer protection is a critical component of this conversation. Not only should consumers have a clear understanding of the rules and risks for a particular contest, but the integrity of the game depends on consumers getting what they paid for,” said Burgess. “From the states that have required the daily fantasy sites to meet online gambling requirements, to the states that have passed legislation explicitly legalizing fantasy games—it is critical to understand the role of the states and what impact their actions have on interstate commerce.”

Upton added, “States all across the country are looking at these issues, which will help inform whether a federal role is warranted. In Michigan, for instance, there is a bill pending in the legislature to expressly legalize daily fantasy sports. But we must keep in mind that a patchwork of differing and contradictory state laws has the potential to negatively impact consumers, and harm further growth and innovation in the process.”" (emphasis added)

#DFS #subCMT



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